Fiat says asking for crisis status at car unit

Newswire

MILAN, Oct 31 (Reuters) - Struggling Italian industrial group Fiat said on Thursday it had started procedures to ask for "crisis status" at its loss-making car unit and related subsidiaries, a key step in its plan to shed jobs. Fiat wants to cut another 8,100 jobs as part of a cost-cutting plan but would need a government-approved crisis status to make use of a one-year temporary layoff programme at Fiat Auto, robotics unit Comau and components maker Magneti Marelli.

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